From $1 Billion to Almost Worthless: FaZe Clan Runs Out of Hype
The board fired CEO Lee Trink following a steep decline in the shares
Bloomberg Tech
Japan’s MUFG Battles Private Equity, Startups to Hire US Bankers
Hiring for bankers in the US is getting harder for Japan’s largest lender, according to a top executive who sees more competition to recruit top talent from a wider slate of companies.
Biden Hits New York’s Broadway as Fall Fundraising Blitz Begins
President Joe Biden’s reelection team is escalating its fundraising efforts, salting away cash as Republicans battle over whether Donald Trump should be their standard-bearer next year.
Turkcell Considers Naming Chairman Bulent Aksu as New CEO
Leading Turkish telecommunications company Turkcell Iletisim Hizmetleri AS is considering former Deputy Finance Minister Bulent Aksu as its new chief executive officer, according to people with knowledge of the matter.
US Futures Steady Before CPI; European Stocks Fall: Markets Wrap
US equity futures traded little changed as traders awaited inflation data for clues on whether policy makers will keep rates higher for longer.
Draghi to Map Out Strategy in EU’s ‘Whatever It Takes’ Competition Pledge
The European Union must do “whatever it takes” to keep its competitive edge as it pushes industry for a green transition, and has recruited Italy’s Mario Draghi to help map out the bloc’s strategy, the head of the EU’s executive arm said.
Kazakh Elites Get Ultimatum: Invest at Home or Face Scrutiny
Kazakh business elites who haven’t revealed the source of their wealth and those with money stashed abroad have a new way out, according to President Kassym-Jomart Tokayev.
Deutsche Bank Tests Out AI to Detect Rogue Traders’ Phonecalls
Deutsche Bank AG is testing out artificial intelligence tools that aim to detect possible signs of misconduct from the tone of traders’ phone conversations.
UK’s Apple Users Get a £100 Price Cut on New iPhone 15 Pro Model
Apple Inc.’s new iPhone 15 Pro will go on sale in the UK for about £100 ($125) cheaper than the previous version’s price tag when it debuted a year ago.
Arm Is Set for US IPO Pricing in Test to AI Hype, China Risk
Arm Holdings Plc’s long-anticipated initial public offering is set to price Wednesday and investors will be watching to see how owner SoftBank Group Corp. fares in what is set to be the largest listing of the year — and whether it helps reignite equity capital markets.